The Queen is preparing to step down in four years time to allow her son to become King, it has been claimed.

The long-serving Monarch is reported to have told her inner cycle that she wants to hand over the role at the age of 95.

Her decision comes a few weeks after Prince Philip carried out his final solo engagement in public after announcing he was retiring aged 95.

According to the Daily Mail Clarence House is drawing up "Plan Regency" to cover the period and help draw up legislation for a Regency Act.

Royal commentator Robert Jobson, said: "I have spoken to a number of high-ranking courtiers who made it clear that preparations for a transition are moving ahead at pace.

Queen Elizabeth II and the Prince of Wales in the House of Lords for the State Opening of Parliament

"They have all confirmed that a Regency with Charles taking the lead is now, at the very least, a real possibility."

A new law would grant Charles full power to reign even while she still lives. It remains unclear however if his wife Camilla, would be allowed to become Queen. A recent survey revealed that two-thirds of Britons do not want the Duchess of Cornwall to take the title.

It is more likely she would take another title such as Princess Consort.

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As for Charles there are also question marks over the name he will chose if and when he ascends to the throne.

He is said to have indicated that he will not become King Charles III. He will instead adopt the name George VII.

According to the Mail, one senior former member of the Royal Household said: "Out of the profound respect the Queen holds for the institution of monarchy and its stewardship, Her Majesty would want to make sure that she has done everything she can for her country and her people before she hands over. She is dutiful to her core.

Queen Elizabeth II (Image: Chris Jackson - WPA Pool/Getty Images)

"Her Majesty is mindful of her age and wants to make sure when the time comes, the transition of the Crown is seamless.

"I understand the Queen has given the matter considerable thought and believes that, if she is still alive at 95, she will seriously consider passing the reign to Charles."